“There are information asymmetries in this story. Health insurance is limping along. It's limited in scope, and then you other consequences. Insurance companies have high premiums to protect themselves. The ones who come to the insurance company are sicker and the people have to pay more. You have adverse selection. You have moral hazard. And the doctor does what's on the safe side -- defensive medicine -- without regard to cost. These are fundamental conditions that make health insurance difficult. You have some things that help. Some doctors understand that they shouldn't abuse the system. But you still see problems in the way doctors behave towards patients. They goof off. Sometimes it's too much work. Some things are difficult and risky to diagnose.”

— Kenneth Arrow

quoted in Conor Clarke, An Interview with Kenneth Arrow, Part Two https://www.theatlantic.com/politics/archive/2009/07/an-interview-with-kenneth-arrow-part-two/22279/ (2009)
New millennium

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Kenneth Arrow 37

American economist 1921–2017

Gerry Spence (1929) American lawyer

As quoted in Humanscape : Environments for People (1987), by Rachel Kaplan and Stephen Kaplan, p. 97

“The only way you’re going to pay for it is not by saddling business. All you do by forcing business to pay for health care or passing a law telling people they have to go buy insurance, which is a subsidy for the insurance companies, all these plans are going backwards.”

Mike Gravel (1930–2021) American politician; United States Senator

Huffington post Mash-up: 2007 Democratic Online Debate
Source: https://www.huffpost.com/entry/mashup-transcript-mike-gr_n_64318

“Instead of the joblessness, instead of the millions forced into part-time work, instead of the millions who’ve lost their health insurance, lost their doctors, have faced skyrocketing health insurance premiums, imagine in 2017 a new president signing legislation repealing every word of Obamacare.”

Ted Cruz (1970) American politician

Presidential declaration speech, Ted Cruz declaration speech: Full transcript http://www.independent.co.uk/news/world/americas/ted-cruz-declaration-speech-full-transcript-10128614.html, Independant.co.uk (March 23, 2015)
2010s

“Insurance companies nowadays apply the principle of so-called 'selection by insurance'; this means that they take into consideration the fact that persons who enter early into insurance contracts are on the average of a different type and have a different distribution of death ages from persons from persons admitted to the insurance at a more advanced age.”

Richard von Mises (1883–1953) Austrian physicist and mathematician

First Lecture, The Definition of Probability, p. 18
Probability, Statistics And Truth - Second Revised English Edition - (1957)

“Think of the federal government as a gigantic insurance company (with a sideline business in national defense and homeland security), which does its accounting on a cash basis, only counting premiums and payouts as they go in and out the door. An insurance company with cash accounting... is an accident waiting to happen.”

Peter R. Fisher (1956) American treasury official

While under secretary of the U.S. Treasury in 2002; frequently short-handed as "an insurance company with an army." A Fiscal Train Wreck, Paul, Krugman, Paul Krugman, March 11, 2003, The New York Times http://www.nytimes.com/2003/03/11/opinion/a-fiscal-train-wreck.html,
How government is like insurance, June 28, 2011, Thomas F., Schaller, Baltimore Sun http://articles.baltimoresun.com/2011-06-28/news/bs-ed-schaller-20110628_1_unemployment-insurance-premiums-government-insurance,
Who First Said the US is 'An Insurance Company with an Army'?, Economist's View, Mark, Thoma, January 17, 2013 http://economistsview.typepad.com/economistsview/2013/01/who-first-said-the-us-is-an-insurance-company-with-an-army.html,

“What, exactly, is the cost of this inaction? Estimates of the total national cost of medical malpractice range from $20 billion to $45 billion annually. But this number hardly tells the whole story. There also is the more hidden cost of defensive medicine, including unnecessary testing and second opinions that send patients scurrying through processes that would not otherwise be ordered and deepen the financial burden of America’s health care system by an estimated three percent of our country’s total health care expenditures. Who ultimately pays these costs? Reckless doctors? Faceless insurance companies? Seldom mentioned, the totality of these expenses ultimately falls exclusively on the consumer, since each malpractice award translates ultimately to increased malpractice insurance premiums, which, in turn, translates to either higher health care costs, fewer physicians (with less competitive pricing pressure), or both.”

Michael Johns (1964) American businessman

"Malpractice: Where Will It End?" Orthopedic Technology Review, September/October 2003, by Michael Johns: Advocating Statutory Constraints on Medical Malpractice

“So what's the cost of the culture of corruption? Of people giving breaks to the oil companies and giving giveaways and Christmas presents to the drug companies and the insurance companies? The cost is $90 billion a year. There you go. Quantifiable.”

Amy Klobuchar (1960) United States Senator from Minnesota

Quoted in [interview with Jonathan Singer, Conversation with MN-Sen Candidate Amy Klobuchar, MyDD, February 23 2006, http://www.mydd.com/story/2006/2/23/12158/1447, 2007-02-25]
2006

“I really have some luggage in my head. If only there were insurance companies for that as there are for so many things here, there's a bale I should insure at once.”

Edgar Degas (1834–1917) French artist

J'ai vraiment, un vrai bagage dans la tête. S'il y avait pour cela, comme il y a partout ici, des compagnies d'assurance, voilà un ballot je ferais assurer de suite.
Quote from a letter to James Tissot, (New Orleans, 1873), as cited in Marilyn Brown, Degas and the Business of Art: A Cotton Office in New Orleans (Penn State Press, 1994)
1855 - 1875

“Let's be clear, the lack of health care and affordable medicine does not only threaten the health and well-being of the uninsured, it impacts everyone who comes in contact with them. In fact, what this crisis is beginning to teach us is that we are only as safe as the least insured person in America.”

Bernie Sanders (1941) American politician, senator for Vermont

Press conference, Burlington, Vermont, quoted in * 2020-03-13

America 'only as safe as the least insured person,' Sanders says regarding coronavirus emergency

Seth McLaughlin

The Washington Times

https://www.washingtontimes.com/news/2020/mar/13/coronavirus-only-safe-least-insured-bernie-sanders/
2020

“For the average person, many folks who don't have health insurance initially, they're going to have to make some choices. And they might end up having to switch doctors, in part because they're saving money.”

Barack Obama (1961) 44th President of the United States of America

Interview with WebMD (14 March 2014) http://www.webmd.com/health-insurance/webmd-interviews-obama
2014

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Kenneth Arrow 37

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